Coronation Parade, 42 Cannon Lane, Pinner, Middlesex HA5 1HW

Call 020 8429 3636 - email excellence@dewanis.com

ICAEW joins industry leaders urging Bank of England to get tough on climate change

The Bank of England's incoming Governor has been urged to 'get tough' on climate change by over 100 industry leaders, including the Institute of Chartered Accountants in England and Wales (ICAEW).

06 Mar 2020

The Bank of England's incoming Governor has been urged to 'get tough' on climate change by over 100 industry leaders, including the Institute of Chartered Accountants in England and Wales (ICAEW).

The letter, which was signed by ICAEW Chief Executive Michael Izza, urged new Bank of England Governor Andrew Bailey to 'take a lead and make it mandatory for firms to disclose climate risk promptly'. Fossil fuel assets should be excluded from any future tranches of quantitative easing and the assets the bank accepts as collateral, the letter added.

Among the 101 signatories are former government Chief Scientific Adviser Sir David King, former Bank of England Monetary Policy Committee (MPC) member Willem Buiter and conservationist Jane Goodall.

The letter said: 'To mitigate the worst effects of the crisis and meet the goals of the Paris Agreement, the transition to a zero-carbon economy must be urgently accelerated. Governments bear the primary responsibility for driving this shift, via regulation, taxes, subsidies and public investment.

'Banks and insurers and the financial system as a whole face catastrophic consequences if they fail to adapt. If warming is left unchecked, extreme weather events will cause devastating losses.'

Try a site search Tax return, dividends, pension, spring statement...

Home | Attribution | Contact us | Site map | Accessibility | Disclaimer | Privacy Notice | Help | Search |

Dewanis is a trading name of Dewanis Limited, a company registered in England company No: 06324851. VAT Registration No: 997 6860 34. Director: Ragesh K Dewani ACIB FCA, Registered office address: Coronation Parade, 42 Cannon Lane, Pinner, Middlesex HA5 1HW.

Registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales
A member of the ICAEW Practice Assurance Scheme.

© 2020 Dewanis Chartered Accountants. All rights reserved. We use cookies on this website, you can find more information about cookies here.